Even if you’re not getting low on gas, it might be better to fill up sooner than later.
Gas prices are on the rise across B.C. and the West Kootenay is no exception.
Wednesday morning saw regular gasoline prices in Trail range from a high of $1.39.9 per litre to $1.23.9.
The price at Fas Gas in Warfield on Wednesday was $1.23.7 and at the Fruitvale Co-op it was sitting at $1.23.9.
The average price across B.C. on Wednesday according to GasBuddy.com was $1.31.8.
“Everyone needs to fasten their seat belts as it’s going to be a rough ride at the gas pumps for awhile,” Dan McTeague, a senior petroleum analyst with GasBuddy.com told Black Press.
“I don’t see a downward trend in gas prices for at least the next two weeks.”
McTeague said there are several factors causing the gas price bump—the weak Canadian dollar, a major pipeline that delivers gas from Gulf Coast refineries to the US mid-west currently shut down for maintenance, reduction in the glut of oil on the world market and a booming American economy.
“The American economy is on fire right now. People are working, wages are up and the demand for fuel has shot up,” he said.
“Most of the fuel delivered to the B.C. Interior comes from Edmonton and Edmonton fuel pricing is based on U.S. mid-west gas price futures set in Chicago. And the pipeline disruption is very sensitive to US mid-west pricing, so that’s a key factor behind what’s going on right now.
“We could see a 12 to 13 cent a litre increase in the B.C. Interior before things cool off.”
From a global perspective, McTeague says renewable energy source development is important, but the world appetite for fossil fuels continues to expand.
“The developed world economies are looking for ways to cutback on oil consumption, but the for the developing world countries, which is 90 per cent of the global economy, oil consumption continues to increase,” he said.
With files from Barry Gerding/Black Press